$ZHENGWEI GROUP (02147.HK)$ In its report, Macquarie stated ...

151326120 commented on a stock · Dec 1, 2023 04:21

$ZHENGWEI GROUP (02147.HK)$ In its report, Macquarie stated that the sales of Meituan-W (03690.HK) in the third quarter remained basically flat, but due to aggressive investment in consumer and business subsidies, the adjusted pre-tax depreciation and amortization (EBITDA) profit decreased slightly.

Macquarie believes that leveraging its strong core competitiveness, Meituan's leading position in the local service market in China will be very solid. However, under the competition in the in-store business, the stock price may fluctuate in the short term.

Macquarie predicts that the core business revenue for 2024 will increase by 20% year-on-year, and the core operating margin will reach 17.7%. It has lowered the adjusted EBITDA profit forecast for 2023 and 2024 by 14% and 11%, respectively.

The broker has lowered the target price of the company from $197.1 to $121 and maintained an outperform rating.

pdd holdings (ADR)(MPNGY.US) jd.com Group-SW(09618.HK) pdd holdings(PDD.US)

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more

See Original

Report

252 Views

Comment

151326120

3Followers

0Following

44Visitors